Global Petroleum Share Discussion Threads

[jimarilo] 26/9/2019 08:06

Interesting the Poseidon drillship is heading south from Angola currently

[jimarilo] 25/9/2019 14:24

The AziNam presentation (Namibian Oil & Gas Conference 23rd April 2019) shows on slide 7, a line up of wells, Osprey (PEL30), Channel 2 (PEL44), Prospect W (PEL71 Char), Wolf S/Africa, Marula S/Africa, Target 5 & 6 are in negotiation (as per slide 4), Fan 7 not sure what that is as yet



So, Osprey and Channel 2 are penciled and if you count the lined up wells on slide 7 and miss out Prospect W, (which I think will be way down the line) that corrects the list and has target 5&6 in order.

However where are the two target wells 5&6 ? As they are under negotiation are they on potentially new blocks, with a new partner ???

Edit: the presentation date works with GBP's quarterly announcement, that the company started farm-out talks in the second quarter

[jimarilo] 24/9/2019 09:08

From SQZ results today

Serica is running an active farm-out process with an open data-room and a number of oil and gas companies are reviewing the opportunity to drill an exploration well on the licence. Recent drilling results offshore Namibia have strengthened the case for drilling the giant Prospect B, Serica's highest ranked prospect on the blocks. Evidence points towards a regional seal rock that would trap migrating hydrocarbons, thus benefitting deeper prospects. Prospect B lies below the seal rock and in close proximity to prognosed rich oil-generating source rocks, making it an ideally placed prospect.

Namibia is being taken seriously. As has been said before all the premium blocks have been taken and buy out or farm out is the only options to take a position

[jimarilo] 23/9/2019 12:32

In Namibia, ECO has 4 large oil blocks, all have been worked up and two are drill ready. They are in the process of farming out the blocks. Total, Shell, and Exxon are among the majors that have taken positions off-shore Namibia. There will be 3 or 4 wells drilled there over the next year or so. Azinam, Eco’s partner and a subsidiary of Seacrest are planning two wells, one of which hopefully will be on Cooper, a block they share with ECO. I expect some news here in terms of a farm-in partner and firm drilling plans within the next 6 months.



Someone else thinks PEL30 is going to be one of the first wells to be spud in the up coming wells . Gils time lines are much closer than in this link. But we are more interested in our deal in any case ;-)

The number of wells will be more than stated above, two Seapulse/Azinam/M&P/Exxon, two Galp/Exxon, two Shell/Kosmos, one Total

[jimarilo] 22/9/2019 20:47

“We are very pleased with the award of this vessel of opportunity contract from Nabirm, which further strengthens our belief that we are well placed to deliver significant value to customers operating offshore Africa, and that the importance of the African market will increase going forward.We are working on developing a 2020 multi-client campaign offshore Namibia, which will allow us to deploy a vessel to the region.”

[jimarilo] 21/9/2019 10:24

Gil Holzman interview

Mainly Guyana but listen from 10 mins ref Namibia..

"Its the Second hottest exploration area after Guyana.. News coming out on farm outs, new partners, well plans etc.."



It is about time, obviously much going on in the back ground, looking like deals being done ahead of a drilling campaign, season window between now and Q1

[jimarilo] 21/9/2019 10:22

Total..Together with neighboring Namibia, Southern Africa is today considered a deep offshore exploration hotspot

[jimarilo] 19/9/2019 12:45

Seabird won this contract earlier this year which was due to start Q2 2019


Again just announced a further contract in Africa


They have been using the Nordic Explorer, which has been all over the shop in offshore Namibia in recent weeks/months. Both announcements say Africa or West Africa and no mention of client. The vessel is currently berthed in Walvis Bay, set to go again

[jimarilo] 18/9/2019 11:01

Gil Holzman interview

Mainly Guyana but listen from 10 mins ref Namibia..

"Its the Second hottest exploration area after Guyana.. News coming out on farm outs, new partners, well plans etc.."



It is about time, obviously much going on in the back ground, looking like deals being done ahead of a drilling campaign, season window between now and Q1

[jimarilo] 17/9/2019 14:29

Final results due next week

[jimarilo] 17/9/2019 09:43

Total..Together with neighboring Namibia, Southern Africa is today considered a deep offshore exploration hotspot

[jimarilo] 16/9/2019 16:27

Here is a link to the presentations made at Aprils Namibian O&G conference

Don't thinks these have been posted before



Same conference slide 9-11 shows AziNam's up coming wells and shows PEL30 followed by PEL44, with a further two wells in SA. Drilling next to our blocks may have an impact ;-)

"Proven Aptian – Albian and Cenomanian – Turonian deep water clastic systems are currently the key plays in both basins focusing on stratigraphic and structural traps"



From the conference, says here Total was to drill Venus this year and Shell to drill two wells

[yesyesno] 16/9/2019 12:51

"Holding over 40%, the BoD's interests are aligned with shareholders"

Except the SH have not drawn millions out of the company over the years of thumb twiddling. On that basis some would say the only incentive for the board is the fact the money is running out. They are looking at one last payday and the real pressure to get a deal will only come when the funds don't cover their next year's drawings.

[jimarilo] 14/9/2019 16:07

Reasons for the delays could be Namcor's restructuring

(Slide 6 looks interesting)





South Africa starting to get their act together



I expect the restructuring of both countries is on account of the Brulpadda discovery and the huge interest it has created

Exploration has probably been held back until positions have been taken and agreed.

Probably see deals completed before the next Namibian drill bit turns

[jimarilo] 13/9/2019 15:56

They have taken a lot of flak over the years to get to this point, of peak interest in Namibian exploration

Holding over 40%, the BoD's interests are aligned with shareholders

[cashandcard] 13/9/2019 15:24

jimarilo,


Do you worry the peters are playing hardball?

I do think they should have partnered by now.


Cash

[jimarilo] 11/9/2019 16:18

You on the sauce again ? ;-)

[yesyesno] 11/9/2019 16:12

Tha the is almost a plot :-)

Goood help us.

[jimarilo] 11/9/2019 12:24

I said in a previous post that Seapulse said they will drill wells in blocks even if they are not operators. I don't know how that could work

If the Maersk Viking was in Namibia on behave of Seapulse they may have found Exxon had other idea's, as the MV is now heading out and marine traffic has the destination as Port Louis Mauritius

The plot thickens ...

[jimarilo] 11/9/2019 12:01

Agreed, whilst Cormorant was being drilled there was a substantial rise and effect here. The well highlighted evidence of a working petroleum system and migrated oil

AEC are looking to PEL30 as a near term well success to find the migrated oil and de-risk their Albatross prospect, which would also put GBP's blocks in a good place

A discovery will have an impact, but a deal is what we need and with the current new data I would expect a deal ahead of a regional drilling campaign, as confidence of a discovery seems to have increased

Here is an interview with Gil Holzman from 2012 where he says Eco has potential for 18Bln barrels within their three blocks



There are two CPR's covering both GBP's blocks applying 12Bln barrels mid case potential. These blocks are huge in potential and area

[cashandcard] 11/9/2019 11:07

jimarilo,


Just going through ECO's presentations, they have mapped Aptian/Albian targets in some of their licenses. I guess its important the big guys lead the way with their deep pockets.

But of course, the risk/reward favours these small explorers if even a whiff of oil/gas-condensate comes in.


Cash

[yesyesno] 11/9/2019 10:59

Well we have another false dawn, almost certainly we'll see 1.25 again.

[jimarilo] 11/9/2019 10:56

Indeed the same was said of Eco and Tlw last year and has been proved correct

The upside here has increased since last year, as we have an additional block to farm out PEL94 adjacent to PEL30) with 3D seismic. Combined with the new concept play since the Total discovery in S/Africa, which has drawn significant interest in the region